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LIFO - Business and Tax Considerations

CCH Editorial Staff

This course describes the basics of LIFO inventory valuation methods. In addition it goes beyond the basic mechanics and explains the advantages and disadvantages of using LIFO, particularly with tax savings in mind.

While this course is intended to provide a general understanding of LIFO to those responsible for its evaluation and calculation, it will also benefit those familiar with LIFO by addressing specific technical issues.

The tax discussions in this course reflect federal tax law, regulations, rulings and court decisions as of August 31, 2006.
Course Details
Price:  $48.00
Field of Study:  2 Accounting; 2 Taxes
Prerequisites:  None
Level:  Basic
CTEC course number:  1075-CE-4293
Course was last updated on:  02/12/07
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Library:
Learning Center Core
Accounting and Audit

Technical Requirements:
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Credit Available For: Units
CPE 4 CPE
QAS 4 CPE
Enrolled Agent (Accepted by the IRS) 4 CPE
CTEC Federal 4 CE

Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.

Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.

CCH has been approved by the California Tax Education Council to offer courses that provide federal and state credit towards the annual "continuing education" requirement imposed by the State of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

User Reviews
Reviewer: Tina S. submitted on 02/06/2010
I liked the way it explained the regulations and the history behind the calculations. The examples were a great learning tool.
Reviewer: Eric M. submitted on 02/03/2010
Structure and organization of content.
Reviewer: Meyer B. submitted on 01/03/2010
LIFO concepts
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